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Cover of Principles of Macroeconomics v1.1.1
Published: 
January 2012
Page Count: 
452
ISBN (Digital): 
978-1-4533-3343-3

Principles of Macroeconomics

Custom Version 1.1.1
By Libby Rittenberg and Timothy Tregarthen
Adapted by Eric Malm

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This version eliminates some more theoretical chapters, and adds more material on alternative economic models (e.g. Sunspot theory, Shumpeterian Growth, etc.). A short chapter on the 'moral philosophical' origins of economics (including Smith, Malthus, Bentham) helps frame a discussion of the role of government in the modern economy.
  • About the Authors
  • Acknowledgments
  • Preface

    • Chapter 1: Economics: The Study of Choice

  • 1.1 Start Up: Economics in the News
  • 1.2 Defining Economics
  • 1.3 The Field of Economics
  • 1.4 The Economists’ Tool Kit
  • 1.5 Review and Practice

    • Chapter 2: Confronting Scarcity: Choices in Production

  • 2.1 Start Up: Tightening Security at the World’s Airports
  • 2.2 Factors of Production
  • 2.3 The Production Possibilities Curve
  • 2.4 Applications of the Production Possibilities Model
  • 2.5 Review and Practice

    • Chapter 3: Demand and Supply

  • 3.1 Start Up: Crazy for Coffee
  • 3.2 Demand
  • 3.3 Supply
  • 3.4 Demand, Supply, and Equilibrium
  • 3.5 Review and Practice

    • Chapter 4: Applications of Demand and Supply

  • 4.1 Start Up: A Composer Logs On
  • 4.2 Putting Demand and Supply to Work
  • 4.3 Government Intervention in Market Prices: Price Floors and Price Ceilings
  • 4.4 The Market for Health-Care Services
  • 4.5 Review and Practice

    • Chapter 5: Macroeconomics: The Big Picture

  • 5.1 Start Up: Financial Crisis Batters Economy
  • 5.2 Growth of Real GDP and Business Cycles
  • 5.3 Price-Level Changes
  • 5.4 Unemployment
  • 5.5 Review and Practice

    • Chapter 6: Measuring Total Output and Income

  • 6.1 Start Up: The Lockup
  • 6.2 Measuring Total Output
  • 6.3 Measuring Total Income
  • 6.4 GDP and Economic Well-Being
  • 6.5 Review and Practice

    • Chapter 7: Aggregate Demand and Aggregate Supply

  • 7.1 Start Up: The Great Warning
  • 7.2 Aggregate Demand
  • 7.3 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
  • 7.4 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
  • 7.5 Review and Practice

    • Chapter 8: Economic Growth

  • 8.1 Start Up: How Important Is Economic Growth?
  • 8.2 The Significance of Economic Growth
  • 8.3 Growth and the Long-Run Aggregate Supply Curve
  • 8.4 Determinants of Economic Growth
  • 8.5 Review and Practice

    • Chapter 9: The Nature and Creation of Money

  • 9.1 Start Up: How Many Macks Does It Cost?
  • 9.2 What Is Money?
  • 9.3 The Banking System and Money Creation
  • 9.4 The Federal Reserve System
  • 9.5 Review and Practice

    • Chapter 10: Financial Markets and the Economy

  • 10.1 Start Up: Clamping Down on Money Growth
  • 10.2 The Bond and Foreign Exchange Markets
  • 10.3 Demand, Supply, and Equilibrium in the Money Market
  • 10.4 Review and Practice

    • Chapter 11: Monetary Policy and the Fed

  • 11.1 Start Up: The Fed’s Extraordinary Challenges in 2008
  • 11.2 Monetary Policy in the United States
  • 11.3 Problems and Controversies of Monetary Policy
  • 11.4 Monetary Policy and the Equation of Exchange
  • 11.5 Review and Practice

    • Chapter 12: Government and Fiscal Policy

  • 12.1 Start Up: A Massive Stimulus
  • 12.2 Government and the Economy
  • 12.3 The Use of Fiscal Policy to Stabilize the Economy
  • 12.4 Issues in Fiscal Policy
  • 12.5 Review and Practice

    • Chapter 13: Investment and Economic Activity

  • 13.1 Start Up: Jittery Firms Slash Investment
  • 13.2 The Role and Nature of Investment
  • 13.3 Determinants of Investment
  • 13.4 Investment and the Economy
  • 13.5 Review and Practice

    • Chapter 14: Net Exports and International Finance

  • 14.1 Start Up: Currency Crises Shake the World
  • 14.2 The International Sector: An Introduction
  • 14.3 International Finance
  • 14.4 Exchange Rate Systems
  • 14.5 Review and Practice

    • Chapter 15: Inequality, Poverty, and Discrimination

  • 15.1 Start Up: Poverty in the United States
  • 15.2 Income Inequality
  • 15.3 The Economics of Poverty
  • 15.4 The Economics of Discrimination
  • 15.5 Review and Practice

    • Chapter 16: Economic Development

  • 16.1 Start Up: Being Poor in a Poor Country
  • 16.2 The Nature and Challenge of Economic Development
  • 16.3 Population Growth and Economic Development
  • 16.4 Keys to Economic Development
  • 16.5 Review and Practice

    • Chapter 17: Economics- Science or Philosophy?

  • 17.1 Reconnecting with Economic History
  • 17.2 Welfare Economics
  • 17.3 Economics and Government Policy

    • Appendix A: Appendix A: Graphs in Economics

  • A.1 How to Construct and Interpret Graphs
  • A.2 Nonlinear Relationships and Graphs without Numbers
  • A.3 Using Graphs and Charts to Show Values of Variables

    • Appendix B: Appendix B: Extensions of the Aggregate Expenditures Model

  • B.1 The Algebra of Equilibrium
  • B.2 The Aggregate Expenditures Model and Fiscal Policy
  • B.3 Review and Practice
    • Instructor’s Manual

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    Libby Rittenberg Colorado College

    Libby Rittenberg (PhD Rutgers University) is Professor Emerita of Economics at Colorado College. She also served as the Dean of Summer Programs as well as the college’s ombudsperson. As a professor, she frequently taught Principles of Economics, Intermediate Macroeconomic Theory, Comparative Economic Systems, and a senior seminar on the International Political Economy. Throughout her academic career, Libby was deeply involved in study abroad education and directed programs in central Europe and Turkey. She was honored to have been a Fulbright Lecturer. Her research has focused on the internationally oriented areas of economics, with numerous articles on comparative and development economics, and a particular emphasis on the Turkish economy. 

    Timothy Tregarthen University of Colorado Colorado Springs

    Timothy Tregarthen (PhD University of California, Davis) is Professor Emeritus of Economics at the University of Colorado-Colorado Springs. There is one word that captures the essence of Tim Tregarthen—inspiring. Tim was first diagnosed with multiple sclerosis in 1975, yet, he continued a remarkable academic career of teaching and research which includes an autobiography recounting his experiences with multiple sclerosis titled Suffering, Faith, and Wildflowers. Tim was formerly on faculty at University of Colorado-Colorado Springs. 

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